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Axios
Axios
Business

UNBELIEVABLE: Us consumers spend more than they make as inflation bites - The Untold Story

Inflation Morning Consult
Data: Morning Consult; Chart: Axios Visuals

Overall consumer spending fell 4.3% in December from the previous month, according to a Morning Consult survey released Wednesday morning, with an increasing share of Americans spending more money than they're earning.

Why it matters: Inflation may be easing, but high prices are still a big problem for individuals, particularly after a year of spending down savings. It's not a great sign for economic growth.

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